Subsidizing fossil fuels seriously undermines ongoing efforts to deal with climate change – subsidies distort energy prices, encourage wasteful consumption, increase global greenhouse gas emissions and impede investment in renewable energy sources. Such subsidies particularly affect transportation investments and choices. But in September 2009, Pittsburgh, G-20 leaders committed to phasing out and rationalizing their inefficient fossil-fuel subsidies that lead to wasteful consumption. On 26-27 June, 2010, leaders are set to meet again for the first time since making that commitment. The Global Subsidies Initiative of the International Institute for Sustainable Development has issued a policy brief summarizing what G-20 countries have done so far, and what else needs to be done to deliver on that commitment, including 3 recommended actions G-20 leaders should take in Toronto
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